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a payroll tax, 2% payroll tax that's been in effect for two years, and no deal that's looking to extend that, so that is one thing people will see taken out of their paychecks starting in the new year. >> jennifer davis, thanks for , the update.the we appreciate it. >>> let's bring in mark.ma let me ask you, at this point,th are there any winners and losern because we still have no deal? >> yeah, i don't think there are any winners. senator mansion of west virginia said it best, quoted in the wall street journal n when he said there's something terribly wrong when the problem with the u.s. economy is the u.s. congress. and i think that's it. people are pretty fed up, and all they're trying to do really is sort of damage control, andct not make themselves look worst than they look. >> lot of, just observers hereob in all of this, is this going to be the new normal, unproductive do nothing congress?co >> i think because of the political complexion of things, and extremism is sort of appreciated, and that congress people view just staying in office rather than doingdo something for the bet
a payroll tax, 2% payroll tax that's been in effect for two years, and no deal that's looking to extend that, so that is one thing people will see taken out of their paychecks starting in the new year. >> jennifer davis, thanks for , the update.the we appreciate it. >>> let's bring in mark.ma let me ask you, at this point,th are there any winners and losern because we still have no deal? >> yeah, i don't think there are any winners. senator mansion of west virginia said it...
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they will be able to dial backbc the tax hikes in the daily or two.il shawn? >> thank you.u. >>> mark joins us.ns from are reports that we know now there will not be a house vote on the fiscal cliff packagk tonight. what are you hearing? what are the chances in what's going on? >> the u.s. congress has taken incomplete, remember that, you would call the registrar and, or your professor, and you took an incomplete, and that's what they've done. mcdonnell and the democratsdemo could get something done in terms of taxes, and it's a stage of process, but in terms of the whole bargain, they want more time of the what republicans didn't want to have blamedblam monday them is that they increased taxes on the middle class, and so maybe tim kainey was prophetic.ti he said let's just settle atse 500,000.tt they settled at 450,000, and noo move to the tougher stuff later. >> we've seen a lot of frustration and it's not justjus the americans who will be affected. lawmakers also fed up, maryland senator, the longer serving woman in the senate, said i, lived through 9/11, i
they will be able to dial backbc the tax hikes in the daily or two.il shawn? >> thank you.u. >>> mark joins us.ns from are reports that we know now there will not be a house vote on the fiscal cliff packagk tonight. what are you hearing? what are the chances in what's going on? >> the u.s. congress has taken incomplete, remember that, you would call the registrar and, or your professor, and you took an incomplete, and that's what they've done. mcdonnell and the...
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never ever to raise taxes. all but 7 of my republican friends have taken that pledge which is a huge impediment to our getting something done. >> do they have to stick to that pledge? >> i hope they will renounce that pledge. the only pledge worth taking when you get elected to the united states congress is to the constitution of the united states. >> let's back up a little bit. talk about what's happened over the weekend what's going on in the senate and seeing that rita cannot seem to come to any sort of agreement now that the vice president being called in. what does that say when the vice president is being called in to broken some sort of a deal? >> well, obviously, phil roe before me said wouldn't it have been nicer if regular order would have worked? i agree with that but we were out in recess for 15 weeks not doing this job. so the fact that you got to call in the cavalry at the last minute to rescue a deal if that's what it takes, so be it. but what's important to me is we try to avoid this cliff on be
never ever to raise taxes. all but 7 of my republican friends have taken that pledge which is a huge impediment to our getting something done. >> do they have to stick to that pledge? >> i hope they will renounce that pledge. the only pledge worth taking when you get elected to the united states congress is to the constitution of the united states. >> let's back up a little bit. talk about what's happened over the weekend what's going on in the senate and seeing that rita...
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and, every working american's taxes will go up january 1st if they do nothing about the payroll tax, a pretty big increase, and, defense cuts and everyone agrees, with that policy to have middle class americans' taxes go up, and, it totally irresponsible defense cuts and this is what congress thinks is a good deal. >> chris: i'm not sure it is a good deal but avoids the worst of the fiscal cliff. senator bayh -- obviously, we don't know, what is your sense, no filibuster in the senate? you heard lindsay graham and do republicans pass whatever the senate agrees to? >> the odds are somewhat better than 50/50 we get a minimal deal in the senate. not one that solves our debt problem, as you pointed out earlier and this is a prequel to going through it again around the first of march over the debt ceiling and getting us through this crisis, slightly better than 50-50 and the real question is in the house of representatives and will it be enough of a compromise, that enough republicans can vote for it, to get through the house? i put that at 50-50. >> chris: byron, the most we can say, or
and, every working american's taxes will go up january 1st if they do nothing about the payroll tax, a pretty big increase, and, defense cuts and everyone agrees, with that policy to have middle class americans' taxes go up, and, it totally irresponsible defense cuts and this is what congress thinks is a good deal. >> chris: i'm not sure it is a good deal but avoids the worst of the fiscal cliff. senator bayh -- obviously, we don't know, what is your sense, no filibuster in the senate?...
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if no deal is made, it would be the large of the tax hike since world war ii. >>> secretary of state hillary clinton remains in a new york city hospital this morning after doctors discovered a blood clot stemming from a concussion she had earlier this month. now, a spokesperson for clinton says she is being treated with medication and will most likely stay in the hospital for the next 48 hours. the clot was discovered yesterday during a follow-up appointment. >>> same-sex couples in maryland will be able to marry tomorrow on new year's day. state lawyers said because january 1st is a holiday and because there is a two-day wait period for licenses to take effect, they could not marry until january 4th. the state's attorney general now says all of the licenses will take effect tomorrow. >>> 2012 was another tough year for the economy. >> so it is no surprise that lottery sales were up. fox's claudia cowan has a look for us. >> are you going to walk away with it? let's find out u. >> reporter: even when times are tough, lotteries rake in the dough. >> during bad times, people want to ha
if no deal is made, it would be the large of the tax hike since world war ii. >>> secretary of state hillary clinton remains in a new york city hospital this morning after doctors discovered a blood clot stemming from a concussion she had earlier this month. now, a spokesperson for clinton says she is being treated with medication and will most likely stay in the hospital for the next 48 hours. the clot was discovered yesterday during a follow-up appointment. >>> same-sex...
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social security payroll tax. there was a 2% payroll tax holiday enacted two years ago and putting that back in this bill was not part of the deal. so that tax holiday allowed to expire. about $20 a week from worker's paychecks will be going back to the social security trust fund instead of into their pockets. back to you guys. >> all right. thank you very much. >>> happening now, gay marriage ceremonies in maryland. same sex couples some of them started taking their vows at the stroke of midnight. marriage licenses were given out on december 6th. but the new law didn't go into affect until the new year. dozens of same sex weddings are scheduled for today. this day would not be possible if not for people like patrick. for nearly ten years he's been in the fight for ten years. they were one of the first couples to sue maryland for marriage equality. patrick joins us by phone to talk about this historic day. good morning to you. happy new year. >> good morning. happy new year. >> how are you feeling today? >> i'm ex
social security payroll tax. there was a 2% payroll tax holiday enacted two years ago and putting that back in this bill was not part of the deal. so that tax holiday allowed to expire. about $20 a week from worker's paychecks will be going back to the social security trust fund instead of into their pockets. back to you guys. >> all right. thank you very much. >>> happening now, gay marriage ceremonies in maryland. same sex couples some of them started taking their vows at the...
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would raise taxes only on families making over $250,000 a year. it would also extend unemployment benefits for two million americans. that could face an up or down vote in monday's session. >> we'll come in at 11:00 a.m. tomorrow morning and we'll have further announcements perhaps at 11:00 in the morning. i certainly hope so. >> reporter: so much at stake for your wallet because if we go off the fiscal cliff, it will be the largest tax increase since world war ii, not to mention the fact that if there is no deal, the markets may react any avery negative way. at the white house, ed henry, fox news. >>> till ahead on fox 5 morning news, when it comes to flying, there aren't but something passengers haven't had access to could soon be coming to a flight near you. >> first, secretary of state hillary clinton hospitalized after another health scare. we'll have an update on her condition this morning when we return. >>> bad weather is oregon is being blamed for a deadly tour bus crash. nine people were killed and dozens more in
would raise taxes only on families making over $250,000 a year. it would also extend unemployment benefits for two million americans. that could face an up or down vote in monday's session. >> we'll come in at 11:00 a.m. tomorrow morning and we'll have further announcements perhaps at 11:00 in the morning. i certainly hope so. >> reporter: so much at stake for your wallet because if we go off the fiscal cliff, it will be the largest tax increase since world war ii, not to mention...
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there is one tax that will rise for most workers. we're talking about the 2% payroll tax cut that was part of an obama stimulus that was passed two years ago and then extended for another year. in this deal, they're going to let that payroll tax cut expire and that will mean that an additional $20 a week out of most workers paychecks will now go back to the social security trust fund instead of into their pockets. juror all right. thank you -- >> all right. thank you for that report. >>> one major issue is the bill does not address is the debt ceiling. monday, the u.s. reached its legal borrowing limit and now the treasury department must work to buy time until the end of next month. the department will suspend some investments and benefit funds for federal workers. still, department will not be able to pay all of the nation's bills on time. this could set stage for another capitol hill battle as congress must vote to raise the debt ceiling. >> new this morning, gay marriage ceremonies are under way in maryland. same-sex couples have
there is one tax that will rise for most workers. we're talking about the 2% payroll tax cut that was part of an obama stimulus that was passed two years ago and then extended for another year. in this deal, they're going to let that payroll tax cut expire and that will mean that an additional $20 a week out of most workers paychecks will now go back to the social security trust fund instead of into their pockets. juror all right. thank you -- >> all right. thank you for that report....
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taxes will remain the same for middle income americans but they will increase for those individuals making more than $400,000 and for families making more than $450,000. >>> gay marriage is now legal in maryland. same-sex couples have been able to get marriage licenses in the free state for about three weeks but the new law didn't go into effect until the strike of midnight in the new year. dozens of same-sex wedding are scheduled for today including some at city hall in baltimore and a massive wedding event at the black walnut point inn. >>> secretary of state hillary clinton remains in a new york city hospital this morning. but doctors are optimistic that she will make a full recovery. she is being treated for a broad clot they found in her head. it is located in the vein between the brain and skull right behind her right ear. clinton is being treated with blood thinners to try to dissolve the clot and doctors say the clot did not result in any neurological damage. >>> cheers of celebration heard around the world. >> it is out with 2012 and in with 2013. chris boswell has a look at how s
taxes will remain the same for middle income americans but they will increase for those individuals making more than $400,000 and for families making more than $450,000. >>> gay marriage is now legal in maryland. same-sex couples have been able to get marriage licenses in the free state for about three weeks but the new law didn't go into effect until the strike of midnight in the new year. dozens of same-sex wedding are scheduled for today including some at city hall in baltimore and...
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, have agreed to vote for a tax increase, the estate tax which republicans are very concerned about will now be indexed to inflation, the alternative minimum tax, which has gone up and affected more people which was posted just to make sure that millionaires paid their fair share, now more people won't fall under that, so they'll have to pay that. so what you have is both sides in some ways holding their noses because institutionally the congress has decided, both democrats and republican. it's too embarrass and they might face political retaliation by doing nothing. so they're going to vote for a bad deal that maybe both of them think is not what they should be doing, but they want to get done with this. >> and, of course, the debt ceiling, this deal doesn't address that. so we could be fighting this all over again in just a few months, president obama already saying he doesn't want to do this. where does this leave things in our last final seconds? >> yes. we'll have another routine over that and republicans feel much strengthened by that because they have the leverage and if the debt
, have agreed to vote for a tax increase, the estate tax which republicans are very concerned about will now be indexed to inflation, the alternative minimum tax, which has gone up and affected more people which was posted just to make sure that millionaires paid their fair share, now more people won't fall under that, so they'll have to pay that. so what you have is both sides in some ways holding their noses because institutionally the congress has decided, both democrats and republican. it's...
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and congress still remain at odds over key issues such as creating an income threshold for raising taxes. president obama says gop leaders have rejected his proposals to make a comprehensive deal. republicans say they are willing to work together. so what does this mean for you? coming up in the next hour, we'll talk live with congressman jerry connelly and congressman phil roe for a closer look at the looming deadline. >>> still ahead this hour, secretary of state hillary clinton hospitalized. we'll have an update on her condition. we'll be right back. (vo) sometimes the big plan doesn't work. and the perfect life turns out to be not so perfect. you start fresh. new city. new job. new everything. it's exciting, and scary, at the same time. and some days you think, "i can't do this on my own." but then...i went to suntrust. they helped me figure things out. and before you know it, i am doing it... (anncr) at suntrust, helping people shine is what we do. join the thousands who are switching to suntrust's award-winning service. >>> secretary of state hillary clinton will spend the new year
and congress still remain at odds over key issues such as creating an income threshold for raising taxes. president obama says gop leaders have rejected his proposals to make a comprehensive deal. republicans say they are willing to work together. so what does this mean for you? coming up in the next hour, we'll talk live with congressman jerry connelly and congressman phil roe for a closer look at the looming deadline. >>> still ahead this hour, secretary of state hillary clinton...
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a hefty spike in taxes. beau, a government contractor, and deanna, an office worker, make a combined income of about $60,000. without a deal, their income taxes will rise by roughly $2,400 a year. on top of that, like everyone else earning $110,000 or less, they'll pay higher payroll taxes to pay for social security. with or without a deal, those are set to go up across the board by 2%. and for the martins, that means they'll pay an additional $1,200 a year. income and payroll tax increases combined, the martins are looking at an additional $3,600 in 2013. and it doesn't stop there. without a deal, feeding their 2-month-old baby daughter, grace, could cost the martins a lot more, too. every american faces the potential for a huge jump in milk prices. the farm bill has stalled, and subsidies have been rolled back. without a deal securing that help for farmers, the price of a gallon of milk could shoot up to almost $7 a gallon. families paying the price at the grocery store. >> very alarming numbers here. bian
a hefty spike in taxes. beau, a government contractor, and deanna, an office worker, make a combined income of about $60,000. without a deal, their income taxes will rise by roughly $2,400 a year. on top of that, like everyone else earning $110,000 or less, they'll pay higher payroll taxes to pay for social security. with or without a deal, those are set to go up across the board by 2%. and for the martins, that means they'll pay an additional $1,200 a year. income and payroll tax increases...
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pass the tax relief portion now. let's take what's been agreed to and get moving. >> reporter: but the sticking point. how long to push off those massive manda tore pri spending cuts that would go into effect in the new year. democrats want a one-year extension. republicans insist on dealing with it sooner. if there has no overall agreement, americans will feel the impact of the fiscal cliff very quickly. the average american family will see a tax increase of more than 3400. if the senate is able to pass a deal, top house republicans aren't confident they'll have the time to get it done by midnight, which means taxes will go up, but the house will meet tomorrow, and they will be voting on a tax cut. >>> so, while there is still no deal on the cliff chef, lawmakers have reached a tentative agreement to keep milk prices from going up in 2013. the house and senate have developed a short-term farm extension bill that who last one year. it's not clear when they who bring it to a vote. if the measure isn't passed by midnig
pass the tax relief portion now. let's take what's been agreed to and get moving. >> reporter: but the sticking point. how long to push off those massive manda tore pri spending cuts that would go into effect in the new year. democrats want a one-year extension. republicans insist on dealing with it sooner. if there has no overall agreement, americans will feel the impact of the fiscal cliff very quickly. the average american family will see a tax increase of more than 3400. if the senate...
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. >> in less than 24 hours everyone's taxes will go up unless congress can manage to stifle the deal. reporter shows us after negotiations on capitol hill, there is still no agreement. >>> members of congress left meetings in capitol hill sunday without a deal. the so-called fiscal cliff. >> there is still significant distance between the 2 sides but negotiations continue. >> if republicans and democrats can't strike a deal, tax rates will go up for all americans and automatic tax cuts will kick in and millions will lose unemployment benefits. i want this done. >> they withdrew the proposal but cut the deficit by slowing social security. there is some movement as both sides try compromise about which americans start paying tax rates. >> republicans don't want to see new revenues, in other words democrat tax increase being used for new spending. >> in unusual move republicans called for a no. 2 democrat, biden to help with negotiations as the white house places a lot of blame on the impasse. >> they say the bill biggest priority is we deal with the debit. their way is the only priority
. >> in less than 24 hours everyone's taxes will go up unless congress can manage to stifle the deal. reporter shows us after negotiations on capitol hill, there is still no agreement. >>> members of congress left meetings in capitol hill sunday without a deal. the so-called fiscal cliff. >> there is still significant distance between the 2 sides but negotiations continue. >> if republicans and democrats can't strike a deal, tax rates will go up for all americans and...
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estate tax...ovvr that aaount... the tax rate would go from 35 to 40-percent wwll apparently be delayed for two monnhs...the delay will be &ppaid for by 12 billion dollars in new revenue and 12 billion dollars in spending cuts 3 2012 turned out to be a far more deadlier year in baltimore city. the last murderrvictim of 2012 died just 14 minutes before the neww year.. tonnght... crime and justiceereporter joy lepola 3 bring that number ddwn. 3& in 2011, the city saw a 3 thaa 2-hundred people were murdered.. record that fell by the wayside t the trike of midnight. thii in a city deemed the 7th deadliest byy forbes magazine. ((pkg))19:19:442(gessler sound))-johny mcfadden 62... kendal stetten 27 they are theenames of those whh were murdered in - baltiiore city in 2012. 3 just before the ewwyear was &pushered in. 217 lives lost.... 20 more compared to the - historic low of 2011. 18:57:33(gessler -batts) we -3can ddop that number below 197 & 197 are still too many lives being loss... too me brothers - uncles ttoomany fath
estate tax...ovvr that aaount... the tax rate would go from 35 to 40-percent wwll apparently be delayed for two monnhs...the delay will be &ppaid for by 12 billion dollars in new revenue and 12 billion dollars in spending cuts 3 2012 turned out to be a far more deadlier year in baltimore city. the last murderrvictim of 2012 died just 14 minutes before the neww year.. tonnght... crime and justiceereporter joy lepola 3 bring that number ddwn. 3& in 2011, the city saw a 3 thaa 2-hundred...
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the last time they finished the deal the tax deal we got a couple years ago that extended tax rates, cut the social security tax by a couple points. all of that ongoing right now and that is really the last hope we have to get something done before the fiscal cliff. >> does the minority leader and the senate, do they concur with the house of representatives. because it's eventually going to have to go through the house? >> absolutely. they would remaining in contact. just to make sure that the house would be agreeable to whatever the senate minority leader put out. democrats would have to be apprised of that as well but any agreement is probably going to need democrats in the house of representatives. the house is also working on a number of procedural maneuvers tonight to pave the way for quick votes over the next few days. they are not actively involved in the negotiations but if these two are to get a deal, vice president and senate minority leader the house could do a quick vote. >> two other things, first, if they don't do a deal, what can the average american, expect as far as
the last time they finished the deal the tax deal we got a couple years ago that extended tax rates, cut the social security tax by a couple points. all of that ongoing right now and that is really the last hope we have to get something done before the fiscal cliff. >> does the minority leader and the senate, do they concur with the house of representatives. because it's eventually going to have to go through the house? >> absolutely. they would remaining in contact. just to make...
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and when that ball comes down in times square tonight, every american's taxes will go up. what happened? >>> the other breaking story tonight. hillary's health. doctors reveal it is a blood clot near mrs. clinton's brain keeping her in the hospital. dr. besser right here with what this means. and what mrs. clinton just told barbara walters after becoming the most traveled secretary of state. >> are you exhausted? >> i am. to be honest, i am. >>> the big chill. a million americans in times square tonight. this evening, the security, the weather. some of the coldest temperatures of the winter. and what we didn't note about something else that will be falling at midnight. ginger zee in times square. >>> and, so long. >> so long. so long. so long. >> the man who said himself, "the show must go on." the first new year's without dick clark, as we heard tonight from his wife. she answers the one question she says so many have been asking her. >>> good evening on this new year's eve. diane counting down with her family. tonight, the other countdown here. the one in washington. ton
and when that ball comes down in times square tonight, every american's taxes will go up. what happened? >>> the other breaking story tonight. hillary's health. doctors reveal it is a blood clot near mrs. clinton's brain keeping her in the hospital. dr. besser right here with what this means. and what mrs. clinton just told barbara walters after becoming the most traveled secretary of state. >> are you exhausted? >> i am. to be honest, i am. >>> the big chill. a...
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the other place is the estate tax. the estate tax is scheduled to rise by quite a bit at the stroke of midnight tomorrow night. republicans want to keep it low, democrats want it to go up a little bit. there's room for compromise there. and so, you know, it's not just marginal rates that are going up, there's a series of taxes that they're going to change. the thing that could not be settled today was this change cpi. essentially a benefit cut for social security recipients. that led to a breakdown in negotiations today, because republicans wanted those benefit cuts to social security. and democrats said no way. and that was the sticking point and that's when this thing moved from the senate over to biden and mcconnell where it is and will be overnight. we're not going to know until tomorrow morning if they come up with something. >> yes, and the senate went home, obviously. here's my question. i know we're americans, we're very myopic, we like to think everything is just about us here. this isn't just about americans,
the other place is the estate tax. the estate tax is scheduled to rise by quite a bit at the stroke of midnight tomorrow night. republicans want to keep it low, democrats want it to go up a little bit. there's room for compromise there. and so, you know, it's not just marginal rates that are going up, there's a series of taxes that they're going to change. the thing that could not be settled today was this change cpi. essentially a benefit cut for social security recipients. that led to a...
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has an incomes tax liability. you oval don't want to see our -- you obviously don't want to see our defense have to deal with what would be deep, deep cuts in our national security budget. those are two things that will happen tomorrow unless congress can act to prevent that. and so count me among those who wants to be, see a solution. i certainly hope that the negotiations that are occurring right now can conclude in a way that will give us an outcome, that prevents those tax rates from increasing on americans across this country and also put in place some things that would actually deal with the real problem. and the real problem, mr. president, is that our country spends too much. and we are where we are today because we haven't done our work when we should have previously. if you think about the fact that for three consecutive years -- three years in a row -- in the united states senate we haven't passed a budget. we spent $3.5 trillion of american taxpayer money every single year and for three consecutive yea
has an incomes tax liability. you oval don't want to see our -- you obviously don't want to see our defense have to deal with what would be deep, deep cuts in our national security budget. those are two things that will happen tomorrow unless congress can act to prevent that. and so count me among those who wants to be, see a solution. i certainly hope that the negotiations that are occurring right now can conclude in a way that will give us an outcome, that prevents those tax rates from...
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. >> i hope there is a deal that avoid the worst parts of the fiscal cliff, mainly taxes going up and middle-class people. i think the odds are better than they could be that people think. >> the agreement would include not only an extension of middle- class tax cuts but would also extend unemployment benefits for millions. >> tax increases need to be avoided, they can be. in the end, we will get a deal. the question is the timing. it is encouraging that both sides continue to sit down and have lines of communication open. >> but a smaller deal will only leave a problem for the incoming congress in january. that is discouraging to america's ceo's. >> we still have the big problem of how we are going to fix our deficit and debt in the country. we know the parties have to work together, and we know we have to resolve this as quickly as possible. >> wall street is keeping a close eye on talks in washington. analysts are worried that any delay could rattle already fragile markets. >> two weeks after the tragedy at sandy hook elementary, the topic of gun-control has heated up at the state
. >> i hope there is a deal that avoid the worst parts of the fiscal cliff, mainly taxes going up and middle-class people. i think the odds are better than they could be that people think. >> the agreement would include not only an extension of middle- class tax cuts but would also extend unemployment benefits for millions. >> tax increases need to be avoided, they can be. in the end, we will get a deal. the question is the timing. it is encouraging that both sides continue to...
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under terms of the legislation taxes on the middle class will not go up. individuals earning $400,000 a year or more and households earning $450,000 a year or more will see the levels return to clinton are a taxes. >> i think that we've made gigantic prog gressments i hope that we can have a bipartisan agreement as we go forward. >> vice-president joe biden -- >> we are losing an opportunity for reform. >> reporter: opponents of the deal said it was done in haste. >> senator mitch mcconnell said this shouldn't be the model and the senate proceed like a bull in a china closet anyway. >> reporter: if the deal is passed in the house, the president is expected to sign this, killing the tax hikes. i'm elizabeth corey done reporting. >> the senate bill's lack of spending cuts is a concern. house majority leader eric cantor said this is not over yet. >>> the new year was also the deadline to apply for the state's homestead tax credit. december 31st was the deadline this get the application in the mail but you can still turn it in tomorrow. >>> a home caught on fi
under terms of the legislation taxes on the middle class will not go up. individuals earning $400,000 a year or more and households earning $450,000 a year or more will see the levels return to clinton are a taxes. >> i think that we've made gigantic prog gressments i hope that we can have a bipartisan agreement as we go forward. >> vice-president joe biden -- >> we are losing an opportunity for reform. >> reporter: opponents of the deal said it was done in haste....
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he insists on raising taxes. it's really his intransigence that endangered the 99%. >> the president is saying he's now willing to do what the republicans asked in 2001, 2003, make the bush tax cuts permanent. he's saying yes, the democrats have agreed. they say they will be permanent. no tax increases for 99%, for people making under $450,000 a year. those will be permanent tax cuts. you support that, but because 1% are going to have to pay a little more, they're going to go from 35% to 39.6% if you're making more than $450,000 a year, you're willing to see all those millions of middle class families suffer. >> actually, if it were only that bill, just protecting the 99%, well, i want to protect 100%. i would vote for a bill that protected 99%. heck, i'd probably vote for a bill that protected 80% because i want to protect anybody from big government, but the thing is it's not just that. they're heaping on new spending. not only are they raising taxes, maybe on a small percentage of people, but a large amount of
he insists on raising taxes. it's really his intransigence that endangered the 99%. >> the president is saying he's now willing to do what the republicans asked in 2001, 2003, make the bush tax cuts permanent. he's saying yes, the democrats have agreed. they say they will be permanent. no tax increases for 99%, for people making under $450,000 a year. those will be permanent tax cuts. you support that, but because 1% are going to have to pay a little more, they're going to go from 35% to...
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Jan 1, 2013
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these tax hikes are not enough for him. that he's going to go after more tax hikes. it's going to be the same discussion. the fact is we're just ceding more and more ground and more and more jobs, by the way, that young people need. so that's one of the things where i think house republicans get it, where at least i mean the majority of our caucus gets it where we're going to stand up against this plan because it's bad for young people, bad for our future, it's bad for the rest of america too. there was a great article in "the washington times" yesterday about why this plan and why plans like this are going to absolutely hurt and bankrupt our generation. i think there's at least a core group of republicans who are actually going to defend that and try to get a real solution done. something that addresses entitlement reform, that doesn't just tax people. this is a tax bill. this just raises taxes. and that's all it's doing. and the fact of the matter is grover norquist, this just shows how little power grover has. grover is a friend and i like him. however remember wi
these tax hikes are not enough for him. that he's going to go after more tax hikes. it's going to be the same discussion. the fact is we're just ceding more and more ground and more and more jobs, by the way, that young people need. so that's one of the things where i think house republicans get it, where at least i mean the majority of our caucus gets it where we're going to stand up against this plan because it's bad for young people, bad for our future, it's bad for the rest of america too....
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paul says: "you will raise taxes nd feel good cause you will stick it to rich people. but guess hat, you may not get more revvnue."davis says (oncam tag): "operationally, the ccuntry is going ttogo ff thh cliff beccuseethere's throoghhbooh chambers before midnight. ut tax hikes and before they maae aa impact..in pashington, jennifer davis, fox ews." whhle the fiscal cliif resolution hangs in the ballnce...americans could soon breathe a sigh of relief when it comes o milk prices. prices.lawmakers agreed to &psign a one year extension ff the u-s farm bill... that woulddstop prices frrm doubling in 2013.the compromise was reached in he house of representatives' agriculture commmttee...the &psenate... and the be siined b the president. a violent weekend in baltimore.... as police investigate four separate ssoot. shootings. the latesttinnvolves man shot road anddbryant avenue. we &pwere on the scene as homicide p:30 last night. hey found the man with multippe gun shot wounds... the inveetigatioo backed up &ptrrffic as detecttves searche for clues. police haven't released an
paul says: "you will raise taxes nd feel good cause you will stick it to rich people. but guess hat, you may not get more revvnue."davis says (oncam tag): "operationally, the ccuntry is going ttogo ff thh cliff beccuseethere's throoghhbooh chambers before midnight. ut tax hikes and before they maae aa impact..in pashington, jennifer davis, fox ews." whhle the fiscal cliif resolution hangs in the ballnce...americans could soon breathe a sigh of relief when it comes o milk...
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including a tax credit for families with children the education tax credit. >> he said he would have liked to have gotten a bigger deal done but unfortunately he was not able to do that. this will have to be ruled out in several steps. checking chicagos letter which is kind of great as the final day of 2012. snow passing downstate as you can see on the radar. if you're heading south be aware of that. we may get a flurry but a lot of this hanging up in the clouds over the city. it will be moving out of here tonight. we get into some serious cold there. this low pressure a streaking along fast. high pressure comes in and brings the sun back tomorrow. look at the temperatures and how cold it is out west of us. we've got 310 days without a subfreezing reading. the hundred and 10 days310 days is just not happened before. tomorrow it happens, we go into subfreezing daytime high territory. we bring to an end, a record. live records going back 142 years. thirties' now around the city. the winds are west at 12. makes it feel like it is 22. that is the reading right now. here the temperatures
including a tax credit for families with children the education tax credit. >> he said he would have liked to have gotten a bigger deal done but unfortunately he was not able to do that. this will have to be ruled out in several steps. checking chicagos letter which is kind of great as the final day of 2012. snow passing downstate as you can see on the radar. if you're heading south be aware of that. we may get a flurry but a lot of this hanging up in the clouds over the city. it will be...
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Dec 31, 2012
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if nothing is done by midnight monday, mandatory tax hikes and spending cuts will kick in, impacting every american. senate majority leader harry reid says while negotiations are on-going, the senate will not vote on any plan this evening. elizabeth corridan is monitoring the situation from washington, d-c. >> reporter: >> as >> as we gather with so much, we need to guide our lawmakers with your wisdom. this evening. >> reporter: the senate will reconvene monday morning, at which point there will be just over 12-hours until the u.s. goes over the fiscal cliff. the senate convened its rare sunday session with a prayer for progress. the house returned from its holiday hours until the u-s economy goes over what's being called the fiscal cliff - lawmakers are locked in a fierce face-off over a set hikes. "we're apart on some pretty big issues." " >> i'm willing to get this done, but i need a dance partner." >> reporter: on n-b-c's meet the press, president obama made a final pitch for his plan to preserve bush era tax cuts for everyone but the wealthiest americans. >> "regardless of part
if nothing is done by midnight monday, mandatory tax hikes and spending cuts will kick in, impacting every american. senate majority leader harry reid says while negotiations are on-going, the senate will not vote on any plan this evening. elizabeth corridan is monitoring the situation from washington, d-c. >> reporter: >> as >> as we gather with so much, we need to guide our lawmakers with your wisdom. this evening. >> reporter: the senate will reconvene monday morning,...
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Jan 1, 2013
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rates, brace yourself for other taxes. rates go up for couples making above $450,000. paychecks for all workers get smaller. the payroll social security tax goes back up 2%, costing about $1,000 a year for an average worker. personal deductions would be limited for incomes above $250,000. taxes on savings, investments and family inheritances go up. but good news for middle class families. a permanent fix to protect them from paying the alternative min minimum tax. for many watching this unfold, more disappointment. >> i feel it's quite disturbing that our elected officials cannot come together to make decisions in the best judgment of the people. >> the fact that congress can't do anything is a laughingstock anyway. nobody has any faith in them to begin with. >> reporter: what happens next? >> house republicans are huddled trying to figure out if they would have the votes if they made changes to add spending cuts. they will take a vote tonight on the measure the way the white house and the senate wrote it. more to come. >>
rates, brace yourself for other taxes. rates go up for couples making above $450,000. paychecks for all workers get smaller. the payroll social security tax goes back up 2%, costing about $1,000 a year for an average worker. personal deductions would be limited for incomes above $250,000. taxes on savings, investments and family inheritances go up. but good news for middle class families. a permanent fix to protect them from paying the alternative min minimum tax. for many watching this unfold,...
WHUT (Howard University Television)
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Dec 31, 2012
12/12
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WHUT
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, and when the income tax hikes should cut income at what income level. it really remains intractable on both sides. what will happen is the negotiations will continue in the new year after some of these measures have been imposed, but the market reaction to the failure of politicians to agree i think will force them to sharpen their negotiating pencils and actually come to some sort of agreement. it will not fully offset the fiscal cliff, but will mean the drag from the government sector on the economy into thousand 13 will not be -- in 2013 will not be as recessionary threatening. >> is down so dramatic, falling off the fiscal cliff. is it as bad as that? what it is in a four-year since. 3% to 4% of gdp will be pulled out of the economy a reduction in government spending, increased taxes. the u.s. economy has been struggling to grow about 2% or higher over the past or since the recession. you should take 2.5% and you get - 1, and that is recession. the issue is, there does need to be fiscal retraction in the west wing of the state and federal government
, and when the income tax hikes should cut income at what income level. it really remains intractable on both sides. what will happen is the negotiations will continue in the new year after some of these measures have been imposed, but the market reaction to the failure of politicians to agree i think will force them to sharpen their negotiating pencils and actually come to some sort of agreement. it will not fully offset the fiscal cliff, but will mean the drag from the government sector on...
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Dec 31, 2012
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the tax policy center, it's called the tax calculator. it allows you to plug in all sorts of information about yourself and family, to find out how your taxes would change based on all sorts of factors. now, it is just an estimate. it can't predict the future. but there are some really good ways to find out how the fiscal cliff would hit you at home. what we've done, we've taken a couple generic examples. let's start off with this one right here. this is a married couple with one child in college. if this couple has an income around $39,000 tax bill goes up $2,700. look at that right there. that's a big chunk of money out of that income. if they're making about $84,000. they'll be paying another $3,000 in taxes. and if this couple has high income, more than $137,000 they're looking at another $8,000 in taxes. that's just one set of generic examples there. there are all sorts of things along the way you can look at. depends what the deducks would be. let's take a look at this one here. if you're looking at a single person with no children,
the tax policy center, it's called the tax calculator. it allows you to plug in all sorts of information about yourself and family, to find out how your taxes would change based on all sorts of factors. now, it is just an estimate. it can't predict the future. but there are some really good ways to find out how the fiscal cliff would hit you at home. what we've done, we've taken a couple generic examples. let's start off with this one right here. this is a married couple with one child in...
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Jan 1, 2013
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. >> the deal will increase estate tax and bring back clinton era tax cuts. fromhouse holds earning 250 thousand dollars a year reportedly to those making 4 hundred and 50 thousand dollars. frustratedrepublicans say while the deal will probably pass, it's not ideal. >> i personally don't like it because i think we're kicking the can down the road and not addressing the real crisis in the country which was not the fiscal cliff, it's a debts crisis. >> the spending cuts that were a sticking point are now postponed for two months at least. >> much more to come on this. stay with abc2 news for late breaking details out of washington. when we're not on the air you can get updates on abc2news.com. you can also find a guide on what the deal could mean for your wallet. if youhaven't checked your tax standing with the homestead tax credit, you better do it, today is the last day. you can turn in your tax application on wednesday in person at the state tax office in baltimore city. new tonight, we have pictures of two teams -- teens arrested charged with beating anothe
. >> the deal will increase estate tax and bring back clinton era tax cuts. fromhouse holds earning 250 thousand dollars a year reportedly to those making 4 hundred and 50 thousand dollars. frustratedrepublicans say while the deal will probably pass, it's not ideal. >> i personally don't like it because i think we're kicking the can down the road and not addressing the real crisis in the country which was not the fiscal cliff, it's a debts crisis. >> the spending cuts that...
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Jan 1, 2013
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the bush-era tax cuts have expired so everybody's tax rates have gone up but if a compromised bill is passed, retroactively they can pass it. >> this represents the least we could have done under these circumstances. >> it fails to address the mortal threat -- uncontrolled spending. >> reporter: there's one deadline they cannot ig know. >>> the new congress begins monday at 12 p.m. karen travers, abc news washington. >> we have more at abc2news.com. just head to our home page and look for the featured stories. >>> all right. a lack at maryland's most powerful radar. very little of that precipitation has made its way north. all of it well, well south. conditions are still dry. clouds are holding tough around the area. that storm is staying south and still pretty cloudy around here. again, we stayed nice and dry. upper 30s in reisterstown, hick core ri and man chester. 42 in pape pea. cloudy and dry, getting cold. colder still as we go into tomorrow and the middle part of the week. we've got those numbers straight ahead. >>> new tonight a teen killed in a car crash in aberdeen. the vict
the bush-era tax cuts have expired so everybody's tax rates have gone up but if a compromised bill is passed, retroactively they can pass it. >> this represents the least we could have done under these circumstances. >> it fails to address the mortal threat -- uncontrolled spending. >> reporter: there's one deadline they cannot ig know. >>> the new congress begins monday at 12 p.m. karen travers, abc news washington. >> we have more at abc2news.com. just head to...
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Dec 30, 2012
12/12
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peopleville to pay in because the alternative minimum tax won't be patched. taxes will go up. spending cuts over time will happen as well. the stock market, i think the stock market will be hit hard. but again, here i am saying, let's do this. i have the most to lose of anyone i know. it's the only way to fix the economy. it's the best thing for the economy. >> okay. take us through what each side is wanting. >> here's what the deal is. president obama wants tax cuts to expire for everyone except those making $250,000 a year. john boehner's plan "b" was anyone making under $1 million a year. neither seemed to work. it looked like president obottomma was coming back with the same deal, $250. they are miles apart. they are miles apart. >> there is a big divide. andrea, you were able to speak with a number of people on the hill. what reaction are you getting? >> well, the president has spread these stories and people in his administration that he is going to come to the table with a deal. we have been hearing that all week long. that did not happen. swan dive, we're going off the
peopleville to pay in because the alternative minimum tax won't be patched. taxes will go up. spending cuts over time will happen as well. the stock market, i think the stock market will be hit hard. but again, here i am saying, let's do this. i have the most to lose of anyone i know. it's the only way to fix the economy. it's the best thing for the economy. >> okay. take us through what each side is wanting. >> here's what the deal is. president obama wants tax cuts to expire for...
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Jan 1, 2013
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and compromise on the estate tax. a republican win on the estate tax. is that food enough for you to accept, even though you don't want to raise taxes? >> although, two points, the estate tax is better than going back to a million dollar exclusi exclusion, 55%, tax rate or anything above that there shouldn't be any tacks on death. it shouldn't be a taxable event. regarding theation on people making above $400,000. go back to 1993, the clinton era tax rates which the democrats want. $250,000 then taxed at 39 mt 6% is the equivalent of $398,000 tow with according to a labor statistic bureau and regular inflation. it's not that great of a deal i don't think as it goes and it's taxing and still taxing small business men and women, and i don't like that at all. >> representative gingrich, ali velshi, happy new year to you, sir. i want to talk to something that played out yesterday. you were a tough primary in the past and that was when you first signed the norquist pledge. am i right? >> that's right. absolutely. >> and grover norquist seems to have approved
and compromise on the estate tax. a republican win on the estate tax. is that food enough for you to accept, even though you don't want to raise taxes? >> although, two points, the estate tax is better than going back to a million dollar exclusi exclusion, 55%, tax rate or anything above that there shouldn't be any tacks on death. it shouldn't be a taxable event. regarding theation on people making above $400,000. go back to 1993, the clinton era tax rates which the democrats want....
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Dec 30, 2012
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they keep the bush tax cuts. you would think republicans would be seb berating. >> juan's drinking the kool-aid, man. >> i agree that the republicans are no better in this -- >> oh! let me take your comment about drinking the kool-aid. you sold them on the kool-aid. >> what flavor is it, juan? grape? cherry. >> andrea, i have to disagree with you. he has been handed a house that went republican because they said, no raising taxes. >> eric -- >> he knew what he was getting into. >> he lost seats. he didn't have the votes to try to get some sort of deal passed. >> john boehner brought the house republicans. >> guess what's going to happen? he is going to get a worse deal -- a worse deal after the new year. that's the political reality. i work in the house for years. i know what this guy's a very shrewd operator -- >> who? >> yeah -- >> i want to ask -- we had this lecture after the gabrielle giffords shooting and colorado, we have to be responsible with the way we talk about guns. but steny heuer decides to equate
they keep the bush tax cuts. you would think republicans would be seb berating. >> juan's drinking the kool-aid, man. >> i agree that the republicans are no better in this -- >> oh! let me take your comment about drinking the kool-aid. you sold them on the kool-aid. >> what flavor is it, juan? grape? cherry. >> andrea, i have to disagree with you. he has been handed a house that went republican because they said, no raising taxes. >> eric -- >> he knew...
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Dec 31, 2012
12/12
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WGN
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facing a dreaded combination of spending cuts and tax hikes... president obama made an appearance, on n-b-c's meet the press. "regardless of partisan differences, our top priority has to be to make sure that taxes on middle class families do not go up that would hurt our economy badly." democrats want to keep the bush-era tax cuts for everyone, except the wealthiest americans. just how wealthy?..is a major sticking point... with negotiations now focused on an income threshold around 400-to-500 thousand dollars. *republicans argue the problem isn't tax revenue...but spending. they want reforms to entitlements. but a proposal to change the way social security benefits are measured against inflation was pulled from the table. vice president joe biden -- talked to minority leader mitch mcconnell several times today...in an effort to break the stalemate. hopefully, the discussions between the vice president and senator mcconnell will get us back on track, hopefully get a breakthrough and something we can vote on. i hope by the end of day tomorrow nigh
facing a dreaded combination of spending cuts and tax hikes... president obama made an appearance, on n-b-c's meet the press. "regardless of partisan differences, our top priority has to be to make sure that taxes on middle class families do not go up that would hurt our economy badly." democrats want to keep the bush-era tax cuts for everyone, except the wealthiest americans. just how wealthy?..is a major sticking point... with negotiations now focused on an income threshold around...
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Jan 1, 2013
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application wednesday in person at the state tax aches office in baltimore. >>> -- tax aches office in baltimore. >> -- taxation office in baltimore. >> here's what's going on downtown. and pretty quiet. things i guess quiet relatively speaking. 35 degrees right now. no weather woes over the next 24 to 48 hours but it's going to get chilly across the area. and list -- annapolis at 24. we will deal with temperatures around 35 to 38 degree range and see it going into the low 40s today. clouds in place and clouds will be with us for most of the afternoon a sunshine and cloud mixture and the system we showed you will be well down to the south. that's good news. so 42 today goes to 37 by wednesday and look how cold it gets by thursday. that's an afternoon high of 34 but look at the overnight lows. teens and low 20s and that's going to continue into the weekend upper 30s to around 43 degrees making our way into next weekend. we will talk about the forecast coming up in a little bit. charles to you. >> all right mike thanks a lot. an argument over a parking spot lands a woman in hot water.
application wednesday in person at the state tax aches office in baltimore. >>> -- tax aches office in baltimore. >> -- taxation office in baltimore. >> here's what's going on downtown. and pretty quiet. things i guess quiet relatively speaking. 35 degrees right now. no weather woes over the next 24 to 48 hours but it's going to get chilly across the area. and list -- annapolis at 24. we will deal with temperatures around 35 to 38 degree range and see it going into the low...
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Dec 29, 2012
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peopleville to pay in because the alternative minimum tax won't be patched. taxes will go up. spending cuts over time will happen as well. the stock market, i think the stock market will be hit hard. but again, here i am saying, let's do this. i have the most to lose of anyone i know. it's the only way to fix the economy. it's the best thing for the economy. >> okay. take us through what each side is wanting. >> here's what the deal is. president obama wants tax cuts to expire for everyone except those making $250,000 a year. john boehner's plan "b" was anyone making under $1 million a year. neither seemed to work. it looked like president obottomma was coming back with the same deal, $250. they are miles apart. they are miles apart. >> there is a big divide. andrea, you were able to speak with a number of people on the hill. what reaction are you getting? >> well, the president has spread these stories and people in his administration that he is going to come to the table with a deal. we have been hearing that all week long. that did not happen. swan dive, we're going off the
peopleville to pay in because the alternative minimum tax won't be patched. taxes will go up. spending cuts over time will happen as well. the stock market, i think the stock market will be hit hard. but again, here i am saying, let's do this. i have the most to lose of anyone i know. it's the only way to fix the economy. it's the best thing for the economy. >> okay. take us through what each side is wanting. >> here's what the deal is. president obama wants tax cuts to expire for...
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Dec 29, 2012
12/12
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FBC
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lou: let's start with the idea taxes that this president wants $1.6 trillion in new taxes. that is a heck of an initial bargaining position, isn't it.> >> the president talks about tax rates.te he wants tax rate increases and he converted into dollars.x rev the real question is can you raise tax revenues.se the only way that we will raise enough revenues to get us out of trouble is private sectorsetor growth. tas you will not have private sectoc growth if you're saraying thate you're going too raise their health care costs or energy costs or labor costs. going t people aroe going to invest. job you are going to find that job creation is unique. american businesses want aess io president to succeed. i didn't vote for him, but hisey success is tied to my success. t conversely, his success is tied to the success of american bs business. there ought to be some common ground here. i'm just not seeing it yet. youh lou: what do you think of the idea that it doesn't ceos from companies show that the white house to talk big with the big guys, but small business thatf creates most th
lou: let's start with the idea taxes that this president wants $1.6 trillion in new taxes. that is a heck of an initial bargaining position, isn't it.> >> the president talks about tax rates.te he wants tax rate increases and he converted into dollars.x rev the real question is can you raise tax revenues.se the only way that we will raise enough revenues to get us out of trouble is private sectorsetor growth. tas you will not have private sectoc growth if you're saraying thate you're...
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Dec 31, 2012
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WBAL
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today's the deadline to file for the homestead tax credit which limits how much your tax increase each year. you can file the paperwork electronically. you can also download the application and mail it in but it must be postmarked by today. we also have a link to the application on our website, wbaltv.com. >> baltimore city detectives are handling new shootings over the weekend. on stanwyck avenue at 1:30 yesterday, they found an adult male with a gunshot wound to the back. in northwest baltimore, the search continues for the person who shot a man following an argument on cordelia ave. this happened not long after 12:30 sunday morning. despite the fact the victim was shot in the head, he is expected to survive. >> police are called once again to a glen burnie bar that has been this scene of several shootings in recent years in glen burnie. a man was shot on the side parking lot of dietrich's tavern. that same tavern was the scene of two other murders. police said they have a description of the suspects but have made no arrests. a baltimore county teenager is recovering at home after be
today's the deadline to file for the homestead tax credit which limits how much your tax increase each year. you can file the paperwork electronically. you can also download the application and mail it in but it must be postmarked by today. we also have a link to the application on our website, wbaltv.com. >> baltimore city detectives are handling new shootings over the weekend. on stanwyck avenue at 1:30 yesterday, they found an adult male with a gunshot wound to the back. in northwest...
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Dec 31, 2012
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WJLA
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if not, an average american family will start the new year with a $3,400 tax hike. here's hoping there's a reason to raise your glass in a post tonight and a sigh of relief. john gonzalez, abc 7 news. >> you can get the latest on efforts to reach a fiscal cliff steel throughout the day. wjla.com. we will have full coverage at 5:00. happening right now, developing news out of new york. secretary of state hillary clinton is in the hospital this afternoon. she is big news for blood clots. t-fal in her home earlier this month and suffered a concussion. during a follow-up exam, doctors discovered the blood clot. if she was committed to new york presbyterian hospital testicles. doctors are treating her with a blood thinner. the treatment suggests that mrs. clinton will be ok. >> if you have a bleeding in your head, you would not put someone on anti-coagulant for treatment. they said they expect her to be in the hospital 48 hours. >> this is the second time mrs. clinton has suffered a blood clot. in 198898 she was hospitalized for blood clots behind her knee. the philadelp
if not, an average american family will start the new year with a $3,400 tax hike. here's hoping there's a reason to raise your glass in a post tonight and a sigh of relief. john gonzalez, abc 7 news. >> you can get the latest on efforts to reach a fiscal cliff steel throughout the day. wjla.com. we will have full coverage at 5:00. happening right now, developing news out of new york. secretary of state hillary clinton is in the hospital this afternoon. she is big news for blood clots....
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Dec 30, 2012
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CSPAN
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the new york times is why the economy needs tax reform. tax reform done right. higher taxes raise progressively. caller: i cannot understand why it is the bureaucrats are able to control all the american citizens. i think there ought to be term limits. if they do not do their job why don't me through all of them out and appoint somebody? they are the ones that get the point slip. the epa is pushing along. they have this right here just a few miles from me. every bit of pork barrel spending there is, their pensions would be cut. they would have to have the statements to push down the american people consider having a set of rules for them. all this does is make it harder on the middle-class. i see this every day in the east door. the government is spending all the money. host: a lot of frustration. guest: it is not always fraud and abuse. we have a deficit of $1 trillion in a budget that is about $1 trillion. we are not going to balance the budget. a lot of what your suggestion are changes in the constitution. the elected representatives are largely doing what th
the new york times is why the economy needs tax reform. tax reform done right. higher taxes raise progressively. caller: i cannot understand why it is the bureaucrats are able to control all the american citizens. i think there ought to be term limits. if they do not do their job why don't me through all of them out and appoint somebody? they are the ones that get the point slip. the epa is pushing along. they have this right here just a few miles from me. every bit of pork barrel spending...
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and if you don't do that, the taxes are going to go. gerri: all right, we are going to take a break right now. but we will break into programming the minute that anybody goes to the senate if we hear from the vice president. rich edson is covering all this for us on capitol hill. the fox business team is in place here on sixth avenue. two hours left from the fiscal cliff. the revelers are ready to party, and we are here for you all night. back to the programming totion e that injunction against the contraceptive mandate? >> it is a surprisingri, pringlehey lt be >> a christian-based company, and they think that that is part of their credo, and 10mandment l commandments, the golden rule. the living hearing purchase pilt will kill babies. we are not going to do it. but the circuit court, the appeals court said we are going to hold up that ruling against it. in this particular case, the court says you are right that your religious exercise is something limited. you can still were shut and you say to that you are limited wit. rtgard to obam
and if you don't do that, the taxes are going to go. gerri: all right, we are going to take a break right now. but we will break into programming the minute that anybody goes to the senate if we hear from the vice president. rich edson is covering all this for us on capitol hill. the fox business team is in place here on sixth avenue. two hours left from the fiscal cliff. the revelers are ready to party, and we are here for you all night. back to the programming totion e that injunction against...
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from a tax increase. it would go back to clinton era rates for capital gains dividends under $450,000 per year would save the current rate. income amounts above that, we are talking about a 20% tax. taxes would increase there. the alternative minimum tax would be couch. it sounds tens of millions of middle-class americans, and this would be a permanent exemption for those people. as for the estate tax, it would go to 40%. there would be a one-year extension of long-term unemployment benefits. adam: what is the sticking point? it seems to me that the democrats felt they wanted, even a delay on the spending cuts. reporter: they did, and that's the problem. it is the delay on the spending cuts democrats wanted to delay the automatic spending cuts for the first few months. known as the sequester. $94 billion worth over the next year. republicans wanted to pay for that by spending cuts elsewhere. so that's something that they are still arguing out right now. republicans say that we have this. adam: will there
from a tax increase. it would go back to clinton era rates for capital gains dividends under $450,000 per year would save the current rate. income amounts above that, we are talking about a 20% tax. taxes would increase there. the alternative minimum tax would be couch. it sounds tens of millions of middle-class americans, and this would be a permanent exemption for those people. as for the estate tax, it would go to 40%. there would be a one-year extension of long-term unemployment benefits....
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if congress doesn't agree, spending cuts will go in to effect and we will pay more taxes. the impact is more than $3400 in a year. >>> she was supposed to return to work this week, instead, secretary of state, hilary clinton is in the hospital. treated for a blood clot that resulted after a fall earlier this month. >> reporter: hilary clinton was admitted to new york presbyterian hospital with a blood clot from a concussion she suffered several weeks ago. he doctors discovered the clot earlier in the day during a follow up exam. no details of where the clot is or other concerns have been releasede first time clinton has been diagnosed with a blood clot. in 98 she was admitted for a clot behind her right knee. the 65-year-old had a stomach virus this month and became dehydrated, fainted and struck her head. she canceled the trip abroad and was not well enough to appear on capitol hill to testify on the attack in libya. doctors want to monitor her medication over the next 48 hours. >>> good news for former president george hw bush, his health condition has improved, meaning
if congress doesn't agree, spending cuts will go in to effect and we will pay more taxes. the impact is more than $3400 in a year. >>> she was supposed to return to work this week, instead, secretary of state, hilary clinton is in the hospital. treated for a blood clot that resulted after a fall earlier this month. >> reporter: hilary clinton was admitted to new york presbyterian hospital with a blood clot from a concussion she suffered several weeks ago. he doctors discovered...